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Transactions with Members, Shareholders and Related Parties (Tables)

6 Months Ended

Jun. 26, 2021

Total tax and excess cash distributions to its members declared by FTW were as follows:


	Three Months Ended				Six Months Ended
(in millions)	June 26, 2021		June 27, 2020		June 26, 2021		June 27, 2020
FTW members excluding McAfee Corp.	$	65	$	81	$	152	$	131
McAfee Corp.		39		—		90		—
Total tax and excess cash distributions declared	$	104	$	81	$	242	$	131

McAfee Corp. used a portion of its share of the cash distributions declared by FTW to declare or pay the dividends noted in the table below during the six months ended June 26, 2021. Remaining distributions received by McAfee Corp. were used for corporate taxes and general corporate purposes.


Declaration Date	Record Date	Payment Date	Dividend per Share		Amount (in millions)
December 9, 2020	December 24, 2020	January 7, 2021	$	0.087	$	14
March 11, 2021	March 26, 2021	April 9, 2021	$	0.115	$	19
June 10, 2021	June 25, 2021	July 9, 2021	$	0.115	$	19

Summary of Transactions with Related Parties

These transactions include sales of our products and purchases of various goods or services.


	Three Months Ended				Six Months Ended
(in millions)	June 26, 2021		June 27, 2020		June 26, 2021		June 27, 2020
Sales with related parties:
TPG affiliates	$	—	$	—	$	1	$	1
Other		—		2		—		2
Total	$	—	$	2	$	1	$	3
Payments to related parties:
Intel	$	—	$	2	$	1	$	2
TPG		—		4		—		5
TPG affiliates		8		7		18		15
Other		2		2		2		9
Total	$	10	$	15	$	21	$	31

Schedule of Receivable, Net

Our Intel receivable, net consisted of the following:


(in millions)	June 26, 2021			December 26, 2020
Intel receivable(1)
Tax indemnity	$	9		$	8
Total		9			8
Intel payable(1)
Tax indemnity		(3	)		(2	)
Total		(3	)		(2	)
Total, net(2)	$	6		$	6

(1)

We have the contractual right of offset of our receivables and payables with Intel.

(2)

As of June 26, 2021, $5 million and $1 million are recorded in Other current assets and Other long-term assets, respectively, on the condensed consolidated balance sheet. As of December 26, 2020, $3 million and $3 million are recorded in Other current assets and Other long-term assets, respectively, on the condensed consolidated balance sheet.